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Why Figma Stock Crashed This Week

TheMotleyFool

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It wasn't long ago that Figma (NYSE: FIG) was a high-flying new stock that investors craved. After its initial public offering (IPO) was priced at $33 on July 31, shares opened at $85 and soared more than 250% on the first day of trading.

Shares have crashed 55% from the post-IPO high, though, including a drop of 26% this week as of 10:39 ET Friday morning, according to data provided by S&P Global Market Intelligence. Figma reported its first quarterly results as a public company this week. That drove much, but not all, of this week's carnage.

Source Fool.com

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